Scopus Asset Management L.P. Boosts Position in Callaway Golf (NYSE:ELY)

Scopus Asset Management L.P. lifted its stake in shares of Callaway Golf (NYSE:ELY) by 25.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,250,000 shares of the company’s stock after acquiring an additional 250,000 shares during the period. Scopus Asset Management L.P.’s holdings in Callaway Golf were worth $33,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC raised its holdings in shares of Callaway Golf by 100.0% during the 1st quarter. Truvestments Capital LLC now owns 1,000 shares of the company’s stock worth $26,000 after acquiring an additional 500 shares during the period. Capital Asset Advisory Services LLC purchased a new stake in Callaway Golf in the 4th quarter valued at about $27,000. Parkside Financial Bank & Trust raised its holdings in Callaway Golf by 43.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,266 shares of the company’s stock valued at $34,000 after buying an additional 386 shares during the period. Vantage Consulting Group Inc purchased a new stake in Callaway Golf in the 4th quarter valued at about $42,000. Finally, Simon Quick Advisors LLC raised its holdings in Callaway Golf by 17.8% in the 1st quarter. Simon Quick Advisors LLC now owns 4,342 shares of the company’s stock valued at $116,000 after buying an additional 657 shares during the period.

Shares of Callaway Golf stock traded down $0.71 on Thursday, reaching $31.89. 9,298 shares of the company were exchanged, compared to its average volume of 1,337,393. Callaway Golf has a 1-year low of $14.62 and a 1-year high of $37.75. The company has a market capitalization of $5.89 billion, a P/E ratio of 62.00 and a beta of 2.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.24 and a current ratio of 1.73. The stock’s 50 day moving average is $33.98.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Sunday, May 9th. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.50. Callaway Golf had a return on equity of 7.77% and a net margin of 6.48%. The business had revenue of $651.60 million during the quarter, compared to the consensus estimate of $603.11 million. During the same period in the previous year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, equities research analysts expect that Callaway Golf will post 0.15 EPS for the current year.

Several analysts recently issued reports on ELY shares. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, June 7th. Truist boosted their price objective on shares of Callaway Golf from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 25th. B. Riley boosted their price objective on shares of Callaway Golf from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, May 11th. KeyCorp lifted their target price on Callaway Golf from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, May 11th. Finally, TheStreet raised Callaway Golf from a “c” rating to a “b-” rating in a research report on Monday, May 10th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $34.70.

In related news, EVP Glenn F. Hickey sold 1,746 shares of the company’s stock in a transaction that occurred on Wednesday, May 26th. The stock was sold at an average price of $37.21, for a total value of $64,968.66. Following the completion of the transaction, the executive vice president now directly owns 17,296 shares of the company’s stock, valued at $643,584.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Oliver G. Brewer III sold 497,537 shares of the company’s stock in a transaction that occurred on Tuesday, June 1st. The shares were sold at an average price of $37.21, for a total value of $18,513,351.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 578,185 shares of company stock valued at $21,300,830. Corporate insiders own 1.23% of the company’s stock.

Callaway Golf Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs and golf balls, apparel, gear, and other products. It operates through two segments, Golf Equipment; and Apparel, Gear and Other. The Golf Equipment segment provides drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters, and pre-owned golf clubs under the Callaway and Odyssey brands, as well as golf balls under the Callaway Golf and Strata brand names.

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Institutional Ownership by Quarter for Callaway Golf (NYSE:ELY)

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